May of this year was turning point in the foreclosure market. Foreclosures have been high for years know as the market has been recovering. And many have been waiting this whole time to see this measure of success turn things around. Well, it finally did.
As of May only 1.7% of homes with mortgages were in foreclosure. This is down 37% from the previous May. And this is measured against foreclosure completions which are down only 9.4% from the previous year.
All in all this is a good sign and a solid step forward. We need to see the market correct itself a little more but this stat is a strong indicator. I think 2014 is going to be bring in serious profits for many gutsy investors.
If you’re still holding out about real estate investing take these stats are your cue to make a move before it’s too late.